Singapore, 13th May 2019 - No award better honours the bold ambition of Singapore’s young businesses under ten years old than the Emerging Enterprise Award. 2019 marks twelve years of the award’s celebration of business innovation, resilience and excellence in SMEs - the bedrock of the Singapore economy.
In order to qualify for the Awards, companies must have been in operations for at most 10 years and a minimum of 30 per cent of shareholdings must be owned by Singaporeans or Singapore Permanent Residents. They also need to have an annual sales turnover of up to S$20 million as of the last financial year and be registered as a sole proprietorship, partnership, limited partnership, limited liability partnership or private limited company in Singapore.
Jointly organised by Singapore Press Holdings' (SPH) financial daily, The Business Times, and OCBC Bank, the annual award was launched in 2008 to recognise small and medium enterprises (SMEs) that have been outstanding in their respective fields and to provide these deserving businesses with the needed resources to build on their capabilities for further growth. Emerging Enterprise Award 2019 is also supported by Mastercard, ACORN and Research Consultants, Singtel, Wavemaker, Enterprise Singapore, Rajah & Tann Legal Basix and the official auditor, RSM.
Since 2008, the award has been empowering startups and young enterprises with both recognition and resources to take flight and achieve stellar growth. The most outstanding businesses stand to win from across three coveted awards: the Emerging Enterprise Award, the Best Innovation Award, and the Most Promising Startup Award.
The Emerging Enterprise Award recognises emerging enterprises that demonstrate an enterprising mindset. These are businesses that drive consistent, significant and sustainable growth, resulting in excellent business performance; and display the ability to scale and expand overseas.
The Best Innovation Award recognises emerging enterprises with a strong culture of innovation. These are businesses that seek creative solutions to persistent problems, innovate to carve out new markets for themselves, or embrace technology to transform their businesses.
The Most Promising Startup Award recognises emerging enterprises with a strong startup spirit. These are startups that have developed a unique and commercially viable idea, which has the potential to be sustained in the long run.
Mr Wong Wei Kong, Editor of The Business Times, said: "These awards encourage and empower young businesses with recognition and resources to continue growing. It also gives them the impetus to work even harder and achieve great things! We hope that it will serve as an inspiration for up and coming startups and enterprises as well."
Ms. Christie Chu, Head, Emerging Business and Commercial Banking Cash, Global Commercial Banking, OCBC Bank, said: "We look forward to the Emerging Enterprise Award every year because we never fail to be amazed by the ingenuity and drive of Singapore's start-ups and young businesses. Past finalists and winners leverage this platform to scale up their businesses and exchange ideas with peers, with many becoming key industry players and household names in a few short years. This is extremely rewarding for us to see and we are excited to continue this tradition of supporting innovation and excellence within the young business segment."
Enterprises that meet the qualifying criteria will have until May 31, 2019 to apply. For more information on Emerging Enterprise Award 2019, please visit this link
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About The Business Times
The Business Times, a member of the Singapore Press Holdings group, is South-east Asia's leading financial daily. BT brings to its readers daily corporate, financial, economic and political news, analysis and commentary on print and digital platforms. It provides readers with in-depth coverage of Singapore and Asian business and economic developments, as well as global trends that impact Singapore business. BT's lifestyle journalists bring busy executives the latest in recreation, entertainment, the arts, design, food and shopping.
For more information, please visit businesstimes.com.sg.
About OCBC Bank
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include over 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches and offices in Hong Kong, China and Macao under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
OCBC Bank has a long history of supporting SMEs. Our successful partnerships with them have helped us earn the following accolades: